The property comprises an end of terrace building, having brick elevations and a pitched tiled roof. It is arranged as a ground floor shop/hot food takeaway with a separate flat on the upper floors, arranged as follows;
Ground Floor Shop. The shop is arranged with a serving counter at the front and a kitchen and food preparation and stores area beyond.
Maisonette. The Maisonette is accessed from a separate entrance reached by stairs at the rear of the shop. The first floor is arranged as a large open plan sitting room & kitchen, with 3 bedrooms and a bathroom. There is a further bedroom in the attic/second floor. The flat has PVC double glazed windows, laminate flooring and gas central heating.
Externally, the property has a rear garden with a basic single storey lock-up store.
The freehold interest in the property is available for sale subject to the tenancy described.
Our clients are seeking offers in excess of £310,000, reflecting a Net Initial Yield of 5.7%, with scope to rise to 7.00% at the rent review.
The whole property is let on a Full Repairing and Insuring for a term of 20 years (without break) from June 2008 at a rent of £18,000 per annum. It was let originally to Poseidon Outlets Limited (company no. 06496314) but was assigned to Rachpal Singh in 2017. There is also a rent deposit of £8,025.
Please see the attached particulars for further information.